TEMPO.CO, Jakarta - Finance Minister Bambang Brodjonegoro said there is a possibility that this year's tax revenue target, pegged at Rp1.29 quadrillion in the 2015 Amended State Budget, will not be met.
"This year's tax revenue shortfall could reach Rp120 trillion," he said during a meeting with the House of Representatives' Commission XI in Jakarta Wednesday night.
The minister said the estimate is based on a worst case scenario; which is if all extensification attempts made by the Tax Directorate General show no effectiveness and global conditions do not improved by the end of the year.
Spending absorption is also estimated to be lower at just 92 percent to 93 percent of the pegged number.
On the occasion, the minister said that state revenues per May 22, 2015 reached Rp508.6 trillion, or 28.9 percent of 2015 Amended Budget target of Rp1.76 quadrillion.
ANTARA | RR